Trivial benefits anyone?

[Smartie]

Wondering if anyone has provided themselves with 'trivial benefits' of <=£50 per time, up to £300 per year in non-cash items without a requirement to report them for tax purposes?
https://www.gov.uk/expenses-and-bene...ivial-benefits

[northernladuk]

The keyword is in the title of your thread. Remember it's still coming out of your pocket at the end of the day. All you are saving is the tax difference surely?

http://www.kfaccounting.co.uk/trivia...ind-exemption/

http://forums.contractoruk.com/accou...-benefits.html

http://forums.contractoruk.com/accou...employees.html

http://www.contractorweekly.com/tax-...s-too-trivial/

[TheCyclingProgrammer]

Nope, but I guess its one of those little perks like the annual party rule that is worth considering. It has to be an actual thing though, not cash.

[northernladuk]

It does strike me it mentions employees all over the place in the guidance. We (generally) don't have employees. The wife you want to buy the flowers for is an office holder and not an employee no?

[Smartie]

It does strike me it mentions employees all over the place in the guidance. We (generally) don't have employees. The wife you want to buy the flowers for is an office holder and not an employee no?

We're an employee of a limited company :-)

I wasn't particularly worried about the tax savings - it's always nice to get a present, especially one from someone who knows what you like ;-)

[Smartie]

Nope, but I guess its one of those little perks like the annual party rule that is worth considering. It has to be an actual thing though, not cash.

It can also be, say, Amazon gift cards by the looks of it.

[malvolio]

We're an employee of a limited company :-)

No you're not, unless you have a specific contract of employment with YourCo, in which case pension provision, WTD and NMW laws apply. What you are is a salaried officer of YourCo. Different thing entirely.

I wasn't particularly worried about the tax savings - it's always nice to get a present, especially one from someone who knows what you like ;-)

... and assuming it's wholly and exclusively business related of course...

HTH.

[northernladuk]

We're an employee of a limited company :-)

How do so many people get this so wrong?

[pr1]

... and assuming it's wholly and exclusively business related of course...

HTH.

I think the point of trivial benefits is that they are not wholly and exclusively business related... they are trivial benefits

[WordIsBond]

Wondering if anyone has provided themselves with 'trivial benefits' of <=£50 per time, up to £300 per year in non-cash items without a requirement to report them for tax purposes?

Yes. But I have employees, so it isn't just "myself".

We take everyone (including spouses) out to lunch when any employee or employee spouse has a birthday. We buy everyone who wants one a Christmas turkey. And we pay for flu jabs for everyone who wants it.